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Ideas for Impact

Archives for October 2020

The Extra Salary You Can Negotiate Ain’t Gonna Make You Happy

October 13, 2020 By Nagesh Belludi Leave a Comment

This well-cited study shows that people with high incomes aren’t actually that much happier than their less-earning brethren. This is something many people know empirically. Never mind that subjective happiness is a nebulous condition that’s not easy to measure.

The belief that high income is associated with good mood is widespread but mostly illusory … People with above-average income are relatively satisfied with their lives but are barely happier than others in moment-to-moment experience, tend to be more tense, and do not spend more time in particularly enjoyable activities.

Of course, there’re situations wherein more money can make a real difference in your well-being: nirvana from living paycheck-to-paycheck, freedom from debt, and adequate savings for retirement. Yes, being poor makes people miserable.

But, beyond a reasonably upper-middle-class living (better health care, lavish-enough vacations and celebrations, affording one partner who could stay at home, the ability to buy conveniences, and so on,) additional income doesn’t create enough incremental happiness to justify all the compromises the extra income entails.

Even people who had big wins in the lottery winded up no happier than those who had bought lottery tickets but didn’t win. Sure, these people will be more content with their new toys for a short time, but that delight typically fades away quickly. After that, they’ll seek out yet another indulgence. Soon, that’ll wear off too, at which point they’re already on the hedonic treadmill.

Idea for Impact: Be mindful of what you’re trading away in the pursuit of a higher salary. Wealth and status are false gods.

Wondering what to read next?

  1. The Problem with Modern Consumer Culture
  2. Yes, Money Can Buy Happiness
  3. Here’s the #1 Lesson from Secret Millionaires
  4. Wealth and Status Are False Gods
  5. You are Rich If You Think You Have Enough

Filed Under: Living the Good Life, Personal Finance Tagged With: Balance, Career Planning, Getting Rich, Materialism, Money, Personal Finance, Simple Living

I’m Not Impressed with Your Self-Elevating Job Title

October 12, 2020 By Nagesh Belludi Leave a Comment

Ben Horowitz of the venture capital firm Andreessen Horowitz discusses giving employees ego-boosting new job titles to appease them for not receiving a promotion or a pay increase:

Should your company make Vice President the top title or should you have Chief Marketing Officers, Chief Revenue Officers, Chief People Officer’s, and Chief Snack Officers? There are two schools of thought regarding this.

Marc Andreessen argues that people ask for many things from a company: salary, bonus, stock options, span of control, and titles. Of those, title is by far the cheapest, so it makes sense to give the highest titles possible… If it makes people feel better, let them feel better. Titles cost nothing. Better yet, when competing for new employees with other companies, using Andreessen’s method you can always outbid the competition in at least one dimension.

And, as a counterpoint, the pitfalls of job title inflation:

At Facebook, by contrast, Mark Zuckerberg… avoids accidentally giving new employees higher titles and positions than better performing existing employees. This boosts morale and increases fairness. Secondly, it forces all the managers of Facebook to deeply understand and internalize Facebook’s leveling system which serves the company extremely well in their own promotion and compensation processes. He also wants titles to be meaningful and reflect who has influence in the organization. As a company grows quickly, it’s important to provide organizational clarity wherever possible and that gets more difficult if there are 50 VPs and 10 Chiefs.

It’s become trendy to create and bandy about outlandish job titles and inflate career profiles.

I’m never impressed with self-elevating titles (e.g., Revenue Protection Officer for a Train Ticket Inspector, Director of First Impressions for a Receptionist) that make you sound like a pretentious, egotistical, and obnoxious person.

Your job title is supposed to help me understand what you do without having to open up the dictionary.

Yes, vague and puzzling job titles surface partly because the world is changing, and so are trades and occupations. Some new job titles are going to be needed.

But it’d be great if we could get by with a much smaller and simpler inventory of descriptive job titles.

Idea for Impact: Avoid bogus grandeur—challenge job title inflation. Don’t assign senior-sounding job titles to those with middle-ranking wages.

Wondering what to read next?

  1. Not Everyone’s Chill About Tattoos and Body Art
  2. Wouldn’t You Take a Pay Cut to Get a Better Job Title?
  3. Job-Hunting While Still Employed
  4. What’s Next When You Get Snubbed for a Promotion
  5. Don’t Use Personality Assessments to Sort the Talented from the Less Talented

Filed Under: Business Stories, Career Development, Managing People Tagged With: Career Planning, Human Resources, Humility, Job Search, Winning on the Job

Inspirational Quotations #862

October 11, 2020 By Nagesh Belludi

You make a living by what you get. You make a life by what you give.
—Winston Churchill (British Head of State)

Do not talk about disgrace from a thing being known, when the disgrace is, that the thing should exist.
—William Faulkner (American Novelist)

The worst disease which can afflict executives in their work is not, as popularly supposed, alcoholism; it’s egotism.
—Harold S. Geneen (American Businessman)

One can never pay in gratitude; one can only pay “in kind” somewhere else in life.
—Anne Morrow Lindbergh (American Author, Aviator)

It is a curious thought, but it is only when you see people looking ridiculous that you realize just how much you love them.
—Agatha Christie (British Novelist)

Laws are always unstable unless they are founded on the manners of a nation; and manners are the only durable and resisting power in a people.
—Alexis de Tocqueville (French Historian, Political Scientist)

If there is any great secret of success in life, it lies in the ability to put yourself in the other person’s place and to see things from his point of view—as well as your own.
—Henry Ford (American Businessperson)

A thread will tie an honest man better than a chain a rogue.
—Scottish Proverb

The secret of Happiness is Freedom, and the secret of Freedom, Courage.
—Thucydides (Greek Historian)

Reality is not easy, but all this make-believe doesn’t make it easier.
—Ayaan Hirsi Ali (Dutch Politician, Activist)

A child’s education should begin at least one hundred years before he is born.
—Oliver Wendell Holmes, Sr. (American Physician, Essayist)

The essence of repression lies simply in turning something away, and keeping it a distance from the conscious.
—Sigmund Freud (Austrian Psychiatrist)

Which of us that is thirty years old has not had his Pompeii? Deep under ashes lies the life of youth—the careless sport, the pleasure and passion, the darling joy.
—William Makepeace Thackeray (English Novelist)

Think left and think right and think low and think high. Oh, the thinks you can think up if only you try.
—Theodor Seuss Geisel (‘Dr. Seuss’) (American Children’s Books Writer)

Control your destiny or somebody else will.
—Jack Welch (American Businessperson)

Nine-tenths of tactics are certain, and taught in books: but the irrational tenth is like the kingfisher flashing across the pool, and that is the test of generals.
—T. E. Lawrence (British Soldier, Writer)

Filed Under: Inspirational Quotations

Lessons from Toyota: Go to the Source and See for Yourself

October 8, 2020 By Nagesh Belludi Leave a Comment

Firsthand, on-the-frontlines observation can offer critical insights that facilitate informed—and inspired—decision-making.

The Japanese approach to problem-solving calls this Genchi Genbutsu (literally “go and see for yourself.”) Sometimes called “get your boots on,” it’s not unlike the notion of management by walking about (MBWA.)

Genchi Genbutsu Refers to a Disposition Than a Specific Action

Genchi Genbutsu is rooted in the idea that any report, say, about a problem on the shop floor, is an abstraction. It’s separated from its context, and therefore generalized and relativized.

Secondhand information tends to misrepresent reality enough to give you a false sense of conviction. The only real way to understand a problem is to see it on the shop floor and get the full breadth and depth of information to make the right decision.

For that reason, any solution concocted at headquarters, where the report is received and the problem diagnosed from a distance, is doubly abstracted from the source.

Genchi Genbutsu isn’t a license for management interference, but to understand the problem, unearth the root cause, and help those doing it to resolve the issue.

Genchi Genbutsu Case Study: Toyota Sienna and the 53,000-Mile Roadtrip

When Yuji Yokoya was appointed the chief engineer for the 2004 Toyota Sienna minivan, he had never designed a vehicle purposely for the North American market. He traveled 53,000 miles across North America to monitor and discover what was wrong with the previous Sienna models. He drove the Sienna and competitor’s minivans through every state in America, every province in Canada, and every state in Mexico. in February 2003, Forbes noted,

In Memphis, Yokoya’s minivan was blown into the next lane crossing the Mississippi from Tennessee to Arkansas. Fix: Yokoya reduced the van’s wind resistance by narrowing the gaps between panels and adding plastic shields under the wheel wells to redirect air.

In Yukon Territory, road noise on the Alaska Highway prevented conversation between the driver and rear passengers. Fix: Yokoya stiffened undercarriage to reduce twisting and added sound-dampening material to the frame.

A culture of on-the-spot problem solving is so ingrained in the Toyota culture. According to company lore,

In the mid-’70s, Toyota had just introduced a four-speed automatic transmission. It was very unusual to have an automatic transmission fail, if ever. It seemed indestructible. When Dr. Shoichiro Toyoda [scion of the founding family and chairman of Toyota 1992–99] visited a dealership, the dealer complained that a car just came in with a transmission that had failed. Dr. Toyoda, in his pressed suit, walked over to the technician, got in a dialogue with him, walked over to the oil pan where he’d drained the oil from the transmission, rolled his sleeve up, and put his hand in this oil, and pulled out some filings. He put the filings on a rag, dried them off, and put them in his pocket to take back to Japan for testing. He wanted to determine if the filings were the result of a failed part or if it was residue from the machining process.

Genchi Genbutsu Case Study: Medtronic and the Bloody Catheter

In the late ’80s, when Bill George became CEO of medical equipment manufacturer Medtronic, he discovered that its catheter sales weren’t good enough. His engineers had said the product was first-rate and improving.

When George visited an operating room to observe a surgical procedure, Medtronic’s catheter fell apart in the surgeon’s hands as soon as he inserted the balloon catheter into the patient’s femoral artery. The surgeon extracted the catheter from the patient. In a fit of rage, he hurled the blood-spattered device across at George, who ducked to avoid injury.

This “Bloody Catheter” incident helped Medtronic fix faulty products and spurred a thorough overhaul of Medtronic’s engineering, sales, and problem-solving processes. George later recalled,

Field reports are a dime a dozen. There’s no emotional association with them. But when you’re in a medical environment like an operating room, all your senses-sight, sound, smell, taste-are working. It’s a totally different experience than reading a field report.

Idea for Impact: If you haven’t experienced something firsthand, your knowledge about it is probably suspect

Even in the information age, not all knowledge you need can be at your fingertips. Go to the source. Be where the action happens. Don’t forego the power of emotional input.

Wondering what to read next?

  1. What Elon Musk and Jeff Bezos Learn “On the Floor”
  2. How Toyota Thrives on Imperfection
  3. How Smart Companies Get Smarter: Seek and Solve Systemic Deficiencies
  4. Learning from the World’s Best Learning Organization // Book Summary of ‘The Toyota Way’
  5. Making Tough Decisions with Scant Data

Filed Under: MBA in a Nutshell, Mental Models, Sharpening Your Skills Tagged With: Critical Thinking, Japan, Leadership, Management, Problem Solving, Quality, Toyota

The Political Genius of Abraham Lincoln // Book Summary of ‘Team of Rivals’

October 5, 2020 By Nagesh Belludi Leave a Comment

Abraham Lincoln is one of history’s most admired leaders. There’s no better rendering of his leadership approach than historian Doris Kearns Goodwin’s fascinating Team of Rivals: The Political Genius of Abraham Lincoln (2005.)

In this Pulitzer Prize-winning work, Goodwin chronicles Lincoln’s early life and his surprising rise to the top of the political world. However, Goodwin’s focus is on Lincoln’s presidency.

President Barack Obama, who never shies away from comparisons to Lincoln, was so impressed with the book that he famously created his own “team of rivals”—a cabinet with Joe Biden, Hillary Clinton, and Tom Vilsack.

Lincoln was a genius for putting his political foes in his cabinet

After Lincoln was elected president in 1860, he knew that people doubted his ability. The country couldn’t be in worse straits. Nonetheless, he was determined to bring together a team of the absolute best people, lead the nation through the Civil War, and put an end to slavery.

And he did precisely that—no matter that those people held very different views or even disliked him personally. Three of Lincoln’s prominent cabinet members were better-known political foes who had campaigned against him in the 1860 election: Attorney General Edward Bates, Secretary of the Treasury Salmon P. Chase (he never stopped scheming politically against Lincoln,) and Secretary of State William H. Seward. Contrasting his three rivals, Lincoln had served only briefly in elected office—and he had steered clear of committing himself on slavery apart from asserting that America could not persist under the circumstances.

Lincoln’s political genius revealed through his extraordinary array of personal qualities that enabled him to form friendships with men who had previously opposed him; to repair injured feelings that, left untended, might have escalated into permanent hostility; to assume responsibility for the failures of subordinates; to share credit with ease; and to learn from mistakes. He possessed an acute understanding of the sources of power inherent in the presidency, an unparalleled ability to keep his governing coalition intact, a tough-minded appreciation of the need to protect his presidential prerogatives, and a masterful sense of timing.

Goodwin explains how Lincoln won people over and mobilized them in the face of their disparate abilities, personalities, and motivations. Lincoln created the micro-coalitions necessary to pursue his overall strategy.

Having risen to power with fewer privileges than any of his rivals, Lincoln was more accustomed to rely upon himself to shape events. … Seward, Chase, Bates—they were indeed strong men. But in the end, it was the prairie lawyer from Springfield who would emerge as the strongest of them all.

Conflict and inclusion of others’ perspectives can make the sum greater than the parts

Lincoln’s unusual combination of forgiving human spirit and sharp political instincts converted his enemies into (mostly) loyal friends and advisers.

Team of Rivals emphasizes Lincoln’s tactics and small, incremental decisions in aid of his larger purpose. Lincoln understood that the leader’s fundamental responsibility is to procure the support needed to unleash ideas and move them forward.

Goodwin captures Lincoln’s vulnerabilities, patience, intelligence, and fantastic will. Goodwin writes, “Good leadership requires you to surround yourself with people of diverse perspectives who can disagree with you without fear of retaliation.” A good leader takes the time to understand all sides of the issue and embrace alternative perspectives.

Lincoln’s mastery of men molded the most significant presidency in the nation’s history

To Goodwin, Lincoln was a political genius who picked the talent he needed, welcomed dissent, listened to his opponents, sought common ground, and piloted tough choices.

“Once a president gets to the White House, the only audience that is left that really matters is history.” Lincoln understood that leadership isn’t about being right, but doing the right thing. This is particularly obvious in how Goodwin describes Lincoln’s determined course of action on slavery.

Team of Rivals states that Lincoln was not an abolitionist by any means, but it’s clear that, in his heart, he was against slavery. After all, slavery was protected by the constitution. But Lincoln gained a better understanding and insight as the years went by. “Life was to him a school.”

Lincoln agreed with the abolitionists that slavery was “a moral, a social and a political wrong,” his plan to free the slaves divided his cabinet. He had always made it clear that preserving the Union trumped all other goals. He became increasingly aware of the need for the Union to embrace the end of the institution of slavery without creating further discord within his own administration and in a fractured state.

Lincoln’s political genius was not simply his ability to gather the best men of the country around him, but to impress upon them his own purpose, perception and resolution at every juncture.

For months, Lincoln let his cabinet deliberate about if—and when—slavery should be abolished. In the end, he conclusively made up his mind to issue his historic Emancipation Proclamation. He gathered his cabinet and told them that he no longer needed their inputs on the pivotal issue—but he would listen to their ideas about how best to implement his decision and its timing. When one cabinet member urged Lincoln to wait for a triumph on the field to issue the proclamation, Lincoln took his counsel.

The desultory talk abruptly ended when Lincoln took the floor and announced he had called them together in order to read the preliminary draft of an emancipation proclamation. He understood the ‘differences in the Cabinet on the slavery question’ and welcomed their suggestions after they heard what he had to say; but he wanted them to know that he ‘had resolved upon this step, and had not called them together to ask their advice.’ … His draft proclamation set January 1, 1863, little more than five months away, as the date on which all slaves within states still in rebellion against the Union would be declared free, ‘thenceforward, and forever.’ … The proclamation was shocking in scope. In a single stroke, it superseded legislation on slavery and property rights that had guided policy in eleven states for nearly three quarters of a century. … The cabinet listened in silence … The members were startled by the boldness of Lincoln’s proclamation.

‘Team of Rivals’ is one of the great leadership books

Goodwin’s chunky (750+ pages plus references) book is a serious commitment. The first third of the book is bogged down by particulars of the lives of Lincoln and his three “rivals” in local and regional politics. But these sections are worth plodding through because the backstories paint a richer picture of the personalities, their intentions and motivations, and how they evolved over time.

All four studied law, became distinguished orators, entered politics, and opposed the spread of slavery. Their upward climb was one followed by many thousands who left the small towns of their birth to seek opportunity and the adventure in the rapidly growing cities of a dynamic, expanding America.

Just as a hologram is created through the interference of light from separate sources, so the lives and impressions of those who companioned Lincoln give us a clearer and more dimensional picture of the president himself. Lincoln’s barren childhood, his lack of schooling, his relationships with male friends, his complicated marriage, the nature of his ambition, and his ruminations about death can be analyzed more clearly when he is placed side by side with his three contemporaries.

Russian novelist Leo Tolstoy called Lincoln, “so great he overshadows all other national heroes.” In the closing pages of Team of Rivals, Goodwin quotes Tolstoy (mentioned by Count S. Stakelberg per New York World on February 7, 1909):

Lincoln’s supremacy expresses itself altogether in his peculiar moral power and in the greatness of his character. … We are still too near to his greatness, but after a few centuries more our posterity will find him considerably bigger than we do. His genius is still too strong and too powerful for the common understanding, just as the sun is too hot when its light beams directly on us.

Recommendation: ‘Team of Rivals’ is a Necessary Read

Goodwin’s Team of Rivals: The Political Genius of Abraham Lincoln (2005) is a fascinating account of how President Abraham Lincoln held the Union together through the civil war, partially by bringing his political rivals into his cabinet and persuading them to work together. Particularly poignant is Goodwin’s characterization of Lincoln as the stoic head of a family afflicted by death and depression.

What makes Team of Rivals such a rich experience is Goodwin’s powerful lessons on bridging differences of opinion and using diverse perspectives to lead more effectively. These themes on leadership are very relevant outside the historical context.

Complement with Steven Spielberg’s remarkable Lincoln (2012,) which was inspired by Team of Rivals. Actor Daniel Day-Lewis won his third Best Actor Oscar for his masterful portrayal of Lincoln.

Wondering what to read next?

  1. Become a Smart, Restrained Communicator Like Benjamin Franklin
  2. The High Cost of Winning a Small Argument
  3. Entitlement and Anger Go Together
  4. The Likeability Factor: Whose “Do Not Pair” List Includes You?
  5. Summary of Richard Carlson’s ‘Don’t Sweat The Small Stuff’

Filed Under: Great Personalities, Leadership Reading Tagged With: Abraham Lincoln, Books, Conflict, Getting Along, Mindfulness, Persuasion

Inspirational Quotations #861

October 4, 2020 By Nagesh Belludi

Be fanatically positive and militantly optimistic. If something is not to your liking, change your liking.
—Rick Steves (American Travel Writer, Entrepreneur)

Friendship is the source of the greatest pleasures, and without friends even the most agreeable pursuits become tedious.
—Thomas Aquinas (Italian Catholic Priest)

For all men being originally equals, no one by birth could have a right to set up his own family in perpetual preference to all others for ever.
—Thomas Paine (American Nationalist)

There are not unfrequently substantial reasons underneath for customs that appear to us absurd.
—Charlotte Bronte (English Novelist, Poet)

The spirit of man is more important than mere physical strength, and the spiritual fiber of a nation more than its wealth
—Dwight D. Eisenhower (American Head of State)

Many men are like unto sausages: Whatever you stuff them with, that they will bear in them.
—Aleksey Nikolayevich Tolstoy (Russian Novelist)

Every idea is endowed of itself with immortal life, like a human being. All created form, even that which is created by man, is immortal. For form is independent of matter: molecules do not constitute form.
—Charles Baudelaire (French Poet)

Words mean more than what is set down on paper. It takes the human voice to infuse them with shades of deeper meaning
—Maya Angelou (American Poet)

There is a great deal of unmapped country within us which would have to be taken into account in an explanation of our gusts and storms.
—George Eliot (Mary Anne Evans) (English Novelist)

We Barbie dolls are not supposed to behave the way I do.
—Sharon Stone (American Actor)

All men are my children. As for my own children I desire that they may be provided with all the welfare and happiness of this world and of the next, so do I desire for all men as well.
—Ashoka (Emperor of India, Patron of Buddhism)

Time is like river. You can’t touch the same water twice, because the flow that has passed will never pass again.
—Swami Vivekananda (Indian Hindu Mystic)

The mind that is wise mourns less for what age takes away; than what it leaves behind.
—William Wordsworth (English Poet)

Probably the difference between man and the monkeys is that the monkeys are merely bored, while man has boredom plus imagination.
—Lin Yutang (Chinese Author, Philologist)

Pain is life—the sharper, the more evidence of life.
—Charles Lamb (British Essayist, Poet)

Filed Under: Inspirational Quotations

Discover the Essence of Buddhism in 5 Minutes

October 1, 2020 By Nagesh Belludi Leave a Comment

“One thing I teach: suffering and the end of suffering. It is just Ill and the ceasing of Ill that I proclaim.” The historical Buddha is said to have announced at his first sermon (Dharmacakrapravarta) to a group of five former ascetic companions (the Pañcavargika.) Following his enlightenment, the Buddha was living at the Deer Park (Mṛgadāva) at the Resort of Seers (Ṛṣipatana) near the Bārāṇasī Forest, in the modern-day Sārnāth in India.

The Buddha’s teaching centered on the notion that all sentient beings seek happiness—and happiness is anchored in the freedom from suffering.

To discover the essence of Buddhism, then, is to become aware of what causes suffering and how you can cease suffering.

The truth of the nature of suffering is also the path to the end of suffering.

American psychotherapist and Buddhist teacher Sylvia Boorstein has argued (Tricycle: The Buddhist Review, Winter 1991) that the answer to this question is the whole of Buddha’s teaching:

If you pay attention for just five minutes, you know some very fundamental dharma [of the Buddha]: things change, nothing stays comfortable, sensations come and go quite impersonally, according to conditions, but not because of anything you think or do. Changes come and go quite by themselves. In the first five minutes of paying attention, you learn that pleasant sensations lead to the desire that these sensations will stay and that unpleasant sensations lead to the hope that they will go away. And both the attraction and the aversion amount to tension in the mind. Both are uncomfortable. So in the first five minutes, you get a big lesson about suffering: wanting things to be other than they are. Such a tremendous amount of truth to be learned just closing your eyes and paying attention to bodily sensations.

While you must welcome pleasant, pleasurable feelings, you must bear in mind that pleasure is transient, like every other feeling. Clinging—wishing to hang on to those people, places, possessions, or experiences that bring about pleasant experiences—is hopeless. By the same token, being aversive to painful or unpleasant experiences is impossible.

Idea for Impact: The essence of Buddhism isn’t a dogma, but the very practical problem of suffering.

Buddhism teaches that you, too, can initiate into the dharma “spiritual” practice by learning to cease your attachment to pleasant experiences and your revulsion against unpleasant ones.

The essence of the Buddha’s teaching is … that you suffer because of your ignorance—because you don’t realize the real nature of reality.

The truth of the nature of suffering is also the path to the end of suffering. In other words, pleasure without pain is achievable only as you evolve toward higher states of mindfulness.

The Buddha’s teaching isn’t pessimistic. It doesn’t stress only the suffering, pain, and unhappiness at the heart of the human experience. In fact, it’s the opposite. The Buddha’s teaching summons joyful participation in a world of sorrows by clarifying what is unsatisfactory and suggesting how to overcome it.

Wondering what to read next?

  1. The Surprising Power of Low Expectations: The Secret Weapon to Happiness?
  2. How to … Embrace the Transience of Emotions
  3. Embracing the Inner Demons Without Attachment: The Parable of Milarepa
  4. Anger is the Hardest of the Negative Emotions to Subdue
  5. What the Buddha Taught About Restraining and Dealing with Anger

Filed Under: Belief and Spirituality, Mental Models Tagged With: Buddhism, Emotions, Happiness, Mindfulness, Suffering

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About: Nagesh Belludi [hire] is a St. Petersburg, Florida-based freethinker, investor, and leadership coach. He specializes in helping executives and companies ensure that the overall quality of their decision-making benefits isn’t compromised by a lack of a big-picture understanding.

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